CTS CORPORATION Elkhart, Indiana 46514 (219) 293-7511
December 26, 2001
FOR RELEASE: Immediately
CTS Announces Equity Financing
Elkhart, IN… CTS Corporation (NYSE: CTS) today announced the sale of 1,800,000 shares of its common stock for an aggregate purchase price of $26 million to an institutional investor under the Company's existing shelf registration previously filed with the Securities and Exchange Commission. Funds from the transaction will be used to strengthen the Company's balance sheet.
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Statements about the Company's earnings outlook and its plans, estimates and beliefs concerning the future are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, based on the Company's current expectations. Actual results may differ materially from those stated in the forward-looking statements due to a variety of factors which could affect the Company's operating results, liquidity and financial condition. We undertake no obligations to publicly update or revise any forward-looking statements. Factors that could impact future results include among others: the impact of the September 11 terrorist attack, the U.S. response to the attack, and the general slowdown in the overall economy; the Company's successful execution of its restructuring, consolidation and cost reduction plans; pricing pressures and demand for the Company's products, especially if economic conditions worsen or do not recover in the key markets for the Company's products; and risks associated with our international operations, including trade and tariff barriers, exchange rates and political risks. Investors are encouraged to examine the Company's SEC filings, which more fully describe the risks and uncertainties associated with the Company's business.
CTS Corporation is a leading designer and manufacturer of electronic components and assemblies for the communications, computer and automotive markets. The Company manufactures products in North America, Europe and Asia. The Company's stock is traded on the NYSE under the ticker symbol "CTS."
Released by: CTS Corporation Telephone (219) 293-7511
905 West Boulevard North FAX (219) 293-6146
Elkhart, IN 46514 www.ctscorp.com
Contact: Vinod Khilnani, Senior Vice President and CFO, or
George T. Newhart, Vice President Investor Relations